XYO Network — Perfecting the Global Positioning System (GPS)
If you’ve read my first article about the XYO Network, you are already aware of what XYO is striving to accomplish. If you read it thoughtfully, you probably thought:
“Wait, why not just use a GPS tracker to determine the location of something, it worked fine the past decades.”
Even though you are fundamentally right, there’s more to it than it seems at the first glance. Besides the fact that the XYO devices are able to interact with smart contracts and therefore steer automated process execution through them, classic GPS devices have their flaws. Even though GPS signals are very accurate, hacking attacks of different kinds often times target the transmitted data and interfere with it. This is possible due to centralized source the signals come from.
As we steadily refine technology as we know it today, new ways of interacting with real world items start to get implemented into code, combining the real world with software applications. Through direct communication of those items (also known as the IOT — Internet of Things) a secure data transfer is a crucial requirement. If we look specifically at items that use GPS data, for example upcoming delivery drones, the effects of a hacking attack could be fatal. In order to pave the way for the evolvement of the IOT and especially GPS reliant items the XYO Network comes into play.
By gathering data in a distributed fashion and through the security of the blockchain environment, XYO provides secure and safe location data that can be used to fuel the systems in need for it. By doing so, XYO contentiously expands a blockchain based ecosystem consisting off location-based components that form a decentralized network through individual devices and providers. This allows the network to conduct trustless and secure transactions and therefore secure the way location based data is communicated.
